Join 300,000 other property investors and subscribe to our newsletter today!
Get a free, no obligation consultation with a senior property strategist Register Now >>
Wed, Nov 29, '17 by Real Estate Investar
Selling an apartment in Hobart takes on average half the time than it did a year ago, and it's gotten quicker to sell homes in Perth and Adelaide.
It's also faster to sell Melbourne homes than at the same time last year, but it's become slower in Sydney and Brisbane.
The median time a Sydney home spent on the market a year ago was 26 days, but that's crept up to 29, the latest figures from property analytics group CoreLogic show.
Sydney apartments spend a median of 30 days on the market, three more than at the same time last year.
At an average of 71 days, Perth homes spend 10 fewer days on the market than at the same time last year, while Hobart homes are selling nine days quicker, spending a median of 24 days on the market.
Apartments in Hobart take on average 21 days to sell, compared with 42 days in the week ending November 27 last year, while in Adelaide apartments are selling on average 14 days faster.
On the auction front, Australia has just had one of its busiest weeks of the year but buyers were unenthused, with the number of homes sold at auction well down on a year ago.
Some 3,409 homes went under the hammer last week, making it the third busiest week this year so far, with a preliminary clearance rate of 66.9 per cent.
Once the final figures come through later this week, the clearance rate is expected to be in the low- to mid-60s, which would be the sixth week in a row that successful sales have sunk that low.
At the same time last year, the average national clearance rate was 73 per cent, when 3,398 homes were up for auction.
IS SELLING A PROPERTY FASTER THAN A YEAR AGO?
* Perth - homes ten days faster (71), units one day faster (82)
* Hobart - homes nine days faster (24), units 21 days faster (21)
* Adelaide - homes five days faster (49), units 14 days faster (60)
*Canberra - homes two days faster (23), units 13 days faster (42)
* Melbourne - homes one day faster (28), units two days faster (29)
* Sydney - homes three days slower (29), units three days slower (30)
* Brisbane - homes one day slower (60), units two days slower (77)
* Darwin - homes 31 days faster (76), units 41 days slower
CAPITAL CITY PRIVATE TREATY MEDIAN PRICES
Sydney - $945,000
Melbourne - $755,000
Canberra - $660,000
Brisbane - $527,750
Perth - $504,125
Darwin - $500,000
Adelaide - $440,000
Hobart - $410,000
Combined capitals - $709,066
Sydney - $712,500
Melbourne - $551,000
Canberra - $428,500
Perth - $400,000
Brisbane - $390,000
Darwin - $375,000
Adelaide - $338,000
Hobart - $337,500
Combined capitals - $578,189
Join 100,000+ other property investors and subscribe to our blog articles.
Just enter your email address below.
Real Estate Investar helps people create wealth through property investment. We provide everything people need to make successful property investing decisions and grow their portfolios.
Copyright © Real Estate Investar Australia Pty Ltd Privacy.